BELIMPRO: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
BELIMPRO
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€219,531
2024 · -€219,013-€519
Equity
€2.4m
2024 · €2.7m-€219,531
Cash
€18
2024 · €12,892-€12,874
Balance sheet total
€10.2m
2024 · €10.6m-€450,426
Largest movements
Assets
- Tangible fixed assets -€339,926
down €339,926 (-5.3%), from €6.4m to €6.0m
of which Land and buildings: -€332,627
Equity and liabilities
- Debts after one year -€279,301
down €279,301 (-5.2%), from €5.4m to €5.1m
- Short-term financial debts +€201,246
up €201,246 (+15.5%), from €1.3m to €1.5m
- Reserves -€182,310
down €182,310 (-5.6%), from €3.3m to €3.1m
of which Tax-exempt reserves: -€182,310
Income statement
- Financial charges -€41,625
down €41,625 (-19.3%), from €215,622 to €173,997
- Gross operating margin -€26,156
down €26,156 (-6.8%), from €384,754 to €358,598
- Depreciation +€20,632
up €20,632 (+4.8%), from €433,503 to €454,135
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
-€219,013
Gross operating margin
-€26,156
Depreciation
-€20,632
Other operating charges
+€1,973
Financial income
+€2,672
Financial charges
+€41,625
Result 2025
-€219,531
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€179,390
Investment
-€114,209
Financing
-€78,055
Cash 2024
€12,892
From operations (derived)
+€179,390
Net result for the year
-€219,531
Depreciation
+€454,135
Receivables within one year
+€99,818
Deferred charges and accrued income
-€2,191
Provisions
-€60,770
Trade debts
-€21,727
Other debts
-€24,343
Accrued charges and deferred income
-€46,000
Investment (derived)
-€114,209
Investment in fixed assets (net)
-€114,209
Financing
-€78,055
Debts after one year
-€279,301
Short-term financial debts
+€201,246
Cash 2025
€18
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,601,974 | €10,151,547 | -€450,426 | -4.2% |
| Fixed assets | 21/28 | €6,827,026 | €6,487,100 | -€339,926 | -5.0% |
| Tangible fixed assets | 22/27 | €6,367,707 | €6,027,781 | -€339,926 | -5.3% |
| Land and buildings | 22 | €6,318,236 | €5,985,609 | -€332,627 | -5.3% |
| Plant, machinery and equipment | 23 | €12,672 | €6,609 | -€6,063 | -47.8% |
| Furniture and vehicles | 24 | €36,799 | €35,563 | -€1,236 | -3.4% |
| Financial fixed assets | 28 | €459,319 | €459,319 | = | 0.0% |
| Current assets | 29/58 | €3,774,947 | €3,664,447 | -€110,500 | -2.9% |
| Amounts receivable within one year | 40/41 | €3,066,379 | €2,966,561 | -€99,818 | -3.3% |
| Other amounts receivable | 41 | €3,066,379 | €2,966,561 | -€99,818 | -3.3% |
| Current investments | 50/53 | €694,365 | €694,365 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,892 | €18 | -€12,874 | -99.9% |
| Deferred charges and accrued income | 490/1 | €1,312 | €3,503 | +€2,191 | +167.0% |
| Total equity and liabilities | 10/49 | €10,601,974 | €10,151,547 | -€450,426 | -4.2% |
| Equity | 10/15 | €2,659,705 | €2,440,174 | -€219,531 | -8.3% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €3,277,715 | €3,095,405 | -€182,310 | -5.6% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,596,373 | €2,414,063 | -€182,310 | -7.0% |
| Distributable reserves | 133 | €674,842 | €674,842 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,218,010 | -€1,255,231 | -€37,221 | -3.1% |
| Provisions and deferred taxes | 16 | €730,670 | €669,900 | -€60,770 | -8.3% |
| Deferred taxes | 168 | €730,670 | €669,900 | -€60,770 | -8.3% |
| Amounts payable | 17/49 | €7,211,598 | €7,041,473 | -€170,125 | -2.4% |
| Amounts payable after more than one year | 17 | €5,421,199 | €5,141,899 | -€279,301 | -5.2% |
| Financial debts | 170/4 | €5,421,199 | €5,141,899 | -€279,301 | -5.2% |
| Amounts payable within one year | 42/48 | €1,744,399 | €1,899,574 | +€155,176 | +8.9% |
| Financial debts | 43 | €1,300,000 | €1,501,246 | +€201,246 | +15.5% |
| Credit institutions | 430/8 | €1,300,000 | €1,501,246 | +€201,246 | +15.5% |
| Trade debts | 44 | €33,899 | €12,172 | -€21,727 | -64.1% |
| Suppliers | 440/4 | €33,899 | €12,172 | -€21,727 | -64.1% |
| Other amounts payable | 47/48 | €410,500 | €386,157 | -€24,343 | -5.9% |
| Accrued charges and deferred income | 492/3 | €46,000 | - | -€46,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €433,503 | €454,135 | +€20,632 | +4.8% |
| Other operating charges | 640/8 | €36,070 | €34,097 | -€1,973 | -5.5% |
| Gross operating margin | 9900 | €384,754 | €358,598 | -€26,156 | -6.8% |
| Operating profit (loss) | 9901 | -€84,819 | -€129,634 | -€44,816 | -52.8% |
| Financial income | 75/76B | €20,658 | €23,330 | +€2,672 | +12.9% |
| Recurring financial income | 75 | €20,658 | €19,470 | -€1,188 | -5.8% |
| Non-recurring financial income | 76B | - | €3,860 | +€3,860 | |
| Financial charges | 65/66B | €215,622 | €173,997 | -€41,625 | -19.3% |
| Recurring financial charges | 65 | €215,622 | €173,997 | -€41,625 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | -€279,783 | -€280,301 | -€519 | -0.2% |
| Transfer from deferred taxes | 780 | €60,770 | €60,770 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€219,013 | -€219,531 | -€519 | -0.2% |
| Transfer from tax-exempt reserves | 789 | €182,310 | €182,310 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,703 | -€37,221 | -€519 | -1.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.